Nidec (OTCMKTS:NJDCY) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Nidec shares moved above their 200-day moving average during Friday trading, reaching as high as $4.15 before last trading at $4.11.
• Citigroup downgraded Nidec from “strong-buy” to “hold,” and MarketBeat notes the stock now has a consensus analyst rating of “Hold.”
• The stock gained 2.0% as investors reacted to the move, with the company still showing a market cap of about $39.21 billion and relatively modest leverage.

Shares of Nidec Corp. (OTCMKTS:NJDCY - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.43 and traded as high as $4.15. Nidec shares last traded at $4.11, with a volume of 54,012 shares traded.

Analyst Upgrades and Downgrades

Separately, Citigroup cut shares of Nidec from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Nidec presently has a consensus rating of "Hold".

Nidec Stock Up 2.0%

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.26. The company's 50 day moving average price is $3.53 and its two-hundred day moving average price is $3.43. The firm has a market cap of $39.21 billion, a PE ratio of 15.81 and a beta of 1.25.

About Nidec

Nidec Corporation is a global manufacturer of electric motors and related systems, supplying components and finished products for a wide range of industries. The company is best known for its precision small motors used in computer hard-disk drives and other compact applications, and it has broadened its product portfolio to include motors, drives, controllers and mechatronic systems for consumer appliances, office automation, industrial equipment and automotive applications.

Its product range encompasses brushless DC motors, induction motors, servo systems, power electronics and complete motor-driven systems designed for energy efficiency and high performance.

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